360 DigiTech, Inc. Sponsored ADR (QFIN) Gains As Market Dips: What You Should Know
360 DigiTech, Inc. Sponsored ADR (QFIN) closed the most recent trading day at $22.83, moving +1.38% from the previous trading session. This change outpaced the S&P 500's 0.87% loss on the day.
Prior to today's trading, shares of the company had lost 9.16% over the past month. This has lagged the Business Services sector's gain of 1.39% and the S&P 500's gain of 1.61% in that time.
Wall Street will be looking for positivity from QFIN as it approaches its next earnings report date. The company is expected to report EPS of $0.78, up 333.33% from the prior-year quarter.
QFIN's full-year Zacks Consensus Estimates are calling for earnings of $4.22 per share and revenue of $2.36 billion. These results would represent year-over-year changes of +11.05% and +19.1%, respectively.
Any recent changes to analyst estimates for QFIN should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. QFIN currently has a Zacks Rank of #2 (Buy).
Digging into valuation, QFIN currently has a Forward P/E ratio of 5.34. For comparison, its industry has an average Forward P/E of 30.43, which means QFIN is trading at a discount to the group.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 169, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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